Zurcher Kantonalbank Zurich Cantonalbank Has $40.22 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.1% in the third quarter, HoldingsChannel.com reports. The fund owned 217,598 shares of the financial services provider’s stock after acquiring an additional 58,927 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The PNC Financial Services Group were worth $40,223,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after acquiring an additional 18,397 shares during the period. Legal & General Group Plc grew its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after acquiring an additional 223,955 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in The PNC Financial Services Group by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock worth $451,052,000 after acquiring an additional 6,438 shares during the period. Principal Financial Group Inc. grew its holdings in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after acquiring an additional 100,993 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock worth $5,345,530 in the last quarter. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PNC shares. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup raised their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.15.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $215.00 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $127.83 and a 52 week high of $216.18. The company’s 50 day moving average price is $193.50 and its two-hundred day moving average price is $176.17. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $85.31 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.25 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm earned $3.60 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 2.98%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.